Roth Capital Reiterates Buy On Barrett Business Services Shares, $80 PT
In a research report issued today, Roth Capital analyst Jeff Martin reiterated a Buy rating on Barrett Business Services (NASDAQ:BBSI) with a price target of $80.00.
Martin noted, “We believe there will be an opportunity to accumulate BBSI shares at an attractive risk-reward on the recently announced $80mm reserve charge. We point to the low $30s as a logical entry point. The reserve strengthening process has created considerable noise with estimating the ultimate liability of claims prior to 2012, despite recent positive trends. Ultimately time will tell, but we maintain conviction that management is making sound long-term decisions.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jeff Martin has a total average return of 5.1% and a 50.0% success rate. Martin has a -18.7% average return when recommending BBSI, and is ranked #1457 out of 3350 analysts.